Advent of digitalization and industry 4.0 has propelled the market growth at a significant rate as it provides all-in-one automation suite to businesses for digitized solutions for their operations. In addition, the rise in need to convert information into digital form to gain insights that supports strategic decision-making in an organization is further expected to drive the automation as a service market growth.
According to a recent report published by Allied Market Research, automation as a service market size was valued at $2.08 billion in 2018, and is projected to reach $12.36 billion by 2026, growing at a CAGR of 25.3% from 2019 to 2026.
Favorable government initiatives particularly in developing regions to adopt cloud technology to modernize applications is further expected to boost growth of the global automation as a service market. In addition, momentous growth of cloud migration activities is among some of the major factors expected to boost the growth of the market during the forecast period. On the contrary, concerns associated with data security and privacy coupled with increase in number cyber-attacks on digital data restrain the market growth. Furthermore, rise in adoption of robotics in manufacturing facilities to ease operational and work force cost is a very opportunistic factor for the global market.
Reduction in workforce cost, ease of doing business, and adoption of services technologies drive the growth of the global automation as a service market. On the contrary, data security and privacy and dynamic automation technology landscape hinder the market growth. However, rising adoption among SMEs would open new opportunities in the coming future.
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The banking, financial services & insurance (BFSI) sector is a pioneer in adopting advance computer & networking systems to reduce enormous, space-concentrated databases and repositories, which leads to the competition for adoption of cloud technology. This has attributed the BFSI sector to dominate the automation as a service market in 2018 and is expected to continue this trend during the forecast period.
Segmental Analysis:
By Component:
- Solution
- Service
By Business Function
- Information Technology
- Sales & Marketing
- Operations
- Finance
- Human Resources
- Others
By Industry Vertical
- BFSI
- Telecom and IT
- Retail
- Healthcare
- Manufacturing
- Government &Defense
- Energy & Utilities
- Media & Entertainment
- Transportation & Logistics
- Others
By Region:
- North America (U.S., Canada)
- Europe (Germany, UK, France, Rest of Europe)
- Asia-Pacific (Japan, China, India, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Key Market Players
- HCL Technologies Limited,
- International Business Machines Corporation,
- Kofax Inc.,
- Blue Prism Limited,
- Pegasystems Inc.,
- NICE ROBOTIC AUTOMATION,
- Microsoft Corporation,
- Hewlett Packard Enterprise Company,
- UiPath,
- Automation Anywhere, Inc.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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According to a research report "Automation-as-a-Service Market by Component (Solution and Services), Type (Rule-Based and Knowledge-Based), Business Function, Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size, Industry, and Region - Global Forecast to 2022", published by MarketsandMarkets, the Automation-as-a-Service Market expected to grow from $1.80 Billion in 2017 to $6.23 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.1%.The major factors driving the automation-as-a-service market are the increasing demand for automation and the increasing adoption of cloud technology.
Various opportunities present in this market include the higher adoption of the automation-as-a-service solutions by the Small and Medium-sized Enterprises (SMEs) and the ability to generate a positive Return on Investment (RoI).Browse in-depth TOC on "Automation-as-a-Service Market"84- Tables45- Figures192- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=57656106Sales and marketing business function is expected to grow at the highest CAGRAutomation-as-a-service solutions and services are used for various business functions, which include Information Technology (IT), sales and marketing, finance, operations, and Human Resource (HR).
The sales and marketing business function is expected to witness the highest CAGR during the forecast period because of the increasing need for sales and marketing departments across industries, to automate various repetitive and mundane tasks that utilize a lot of time of the sales and marketing representatives, which can otherwise be used for beneficial tasks such as customer acquisition and retainment.Healthcare and life sciences industry is expected to have the highest growth rate during the forecast periodAutomation-as-a-service solutions have been deployed across various industries, including Banking, Financial Services, and Insurance (BFSI); telecom and IT; retail and consumer goods; manufacturing; healthcare and life sciences; energy and utilities; transportation and logistics; media and entertainment; government and defense; and others (travel and hospitality, and education).
The healthcare and life sciences industry is expected to witness the highest CAGR during the forecast period because of the increasing need for managing the growing data coming from various patients, maintaining their records, and automating the repetitive tasks.North America is expected to dominate the automation-as-a-service market during the forecast periodNorth America is expected to hold the largest share of the automation-as-a-service market in 2017, due to the automation advancements and early adoption of automation-as-a-service solutions in this region.
Some of the major technology vendors in the automation-as-a-service market include Automation Anywhere, Inc. (US), Blue Prism Group plc (UK), International Business Machines Corporation (US), Microsoft Corporation (US), UiPath (US), HCL Technologies Limited (India), Hewlett Packard Enterprise Development LP (US), Kofax Inc. (US), NICE Ltd. (Israel), and Pegasystems Inc. (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.
The global automation as a service is growing rapidly.
Robotic process automation (RPA) software helps industries automate business processes for lower-cost production, improved compliance, and increased productivity.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/5551Moreover, the augmenting demand for time and cost-effective manufacturing techniques escalate market growth.
Advancements in the automation and Internet of Things (IoT) devices foster the growth of the market.
Nevertheless, substantial R investments would support market growth throughout the review period, bringing about novel automation devices and services.Global Automation as a Service Market – SegmentationThe report is segmented into six dynamics;By Component : Solutions and Services (deployment & integration and support & training, others).By Deployment : Cloud-based and On-Premise.By Organization Size: Small-to-Medium-Sized and Large Enterprises.By Application : Information Technology (IT), Sales & Marketing, Operations, Finance & Human Resources (HR), and others.By End-User : BFSI, Telecommunications & IT, Retail & Wholesales, Healthcare & Life Science, Transportation & Logistics, Media & Entertainment, Hospitality, and others.By Regions : Americas, Europe, APAC, and Rest-of-the-World.Automation-as-a-Service Market – Geographical AnalysisNorth America dominates the global automation as a service market.
The rising adoption of automation as a service in the telecommunications & IT sector creates substantial market demand.The increase in the adoption of automation and cloud technologies among enterprises pushes the regional market's growth.
Additionally, the proliferation of smart & connected devices and the Internet acts as a key driving force for the growth of the regional market.Furthermore, spurting growth in consumer electronics, automotive, aerospace & defense, and telecommunication industries stimulates the market growth in the region.
